Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-4.01%
trims when stocks drop
when a holding falls −10%+
Middle response
-2.67%
baseline attrition
Rally response
+0.77%
adds into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| RBCRBC Bearings Incorporate | $187M | 8.3% | +68.8% | 8.5 yr |
| HEI-AHEICO Corporation | $174M | 7.8% | — | 8.5 yr |
| TDYTeledyne Technologies In | $152M | 6.7% | +21.6% | 8.5 yr |
| APHAmphenol Corporation | $103M | 4.6% | +93.6% | 8.5 yr |
| AMEAMETEK, Inc. | $93M | 4.1% | +25.3% | 8.5 yr |
| SPXCSPX Technologies, Inc. | $92M | 4.1% | +55.3% | 2.5 yr |
| ORLYO'Reilly Automotive, Inc | $87M | 3.9% | -3.4% | 8.5 yr |
| LINLinde plc | $85M | 3.8% | +7.9% | 3.3 yr |
| RLIRLI Corp. | $79M | 3.5% | -26.0% | 8.5 yr |
| GGGGraco Inc. | $78M | 3.4% | +2.7% | 8.5 yr |
| PHParker-Hannifin Corporat | $76M | 3.4% | +48.6% | 2.5 yr |
| WTSWatts Water Technologies | $75M | 3.3% | +43.4% | 2.8 yr |
| SSDSimpson Manufacturing Co | $70M | 3.1% | +9.8% | 7.0 yr |
| ICEIntercontinental Exchang | $58M | 2.6% | -7.8% | 8.5 yr |
| CACICACI International Inc | $56M | 2.5% | +48.2% | 3.3 yr |
Portfolio composition (YoY)
Industry mix
Industrial - Machinery17.0%+6.1pp$381M
Hardware, Equipment & Parts11.3%+3.1pp$255M
Manufacturing - Tools & Accessories8.3%+3.2pp$187M
Aerospace & Defense7.8%-0.3pp$174M
Insurance - Property & Casualty7.2%-5.8pp$161M
Chemicals - Specialty5.5%+0.4pp$123M
Financial - Credit Services5.0%+0.5pp$113M
Specialty Business Services4.4%-0.8pp$99M
Electrical Equipment & Parts4.1%+0.5pp$93M
Specialty Retail3.9%-0.7pp$88M
Country
US90.3%-1.2pp
GB3.8%+0.1pp
BM2.2%-0.6pp
Unknown2.0%+0.0pp
IE1.7%+1.7pp
BR0.0%+0.0pp
Top 5: 31.5% · Top 10: 50.2% · Top 25: 85.5%
Top buys this quarter · 15
| AXP American Express Company | +$19M |
| MDLN Medline Inc.new | +$13M |
| DGII Digi International Inc.new | +$12M |
| TDY Teledyne Technologies Incorpor | +$9M |
| ETN Eaton Corporation plc | +$8M |
| ORI Old Republic International Cor | +$6M |
| GGG Graco Inc. | +$4M |
| SHW The Sherwin-Williams Company | +$4M |
| ATMU Atmus Filtration Technologies | +$2M |
| CPRT Copart, Inc. | +$50M |
Top sells this quarter · 15
| SPGI S&P Global Inc. | −$21M |
| BRO Brown & Brown, Inc.exit | −$18M |
| ADP Automatic Data Processing, Incexit | −$15M |
| APH Amphenol Corporation | −$15M |
| RBC RBC Bearings Incorporated | −$166M |
| UNH UnitedHealth Group Incorporateexit | −$8M |
| ACGL Arch Capital Group Ltd. | −$6M |
| MA Mastercard Incorporated | −$6M |
| PGR The Progressive Corporation | −$4M |
| AME AMETEK, Inc. | −$4M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $2.25B | 82 | +10.26% | +17.59% | -7.33% | -0.11B |
| 2025-12-31 | $2.32B | 82 | +9.46% | +17.72% | -8.26% | -0.08B |
| 2025-09-30 | $2.40B | 84 | +7.70% | +17.52% | -9.82% | -0.04B |
| 2025-06-30 | $2.35B | 85 | +14.19% | +14.94% | -0.75% | +0.04B |
| 2025-03-31 | $2.21B | 87 | +4.26% | +8.30% | -4.05% | -0.01B |
| 2024-12-31 | $2.19B | 88 | +12.91% | +24.89% | -11.97% | -0.00B |
| 2024-09-30 | $2.23B | 87 | +28.15% | +36.04% | -7.89% | +0.04B |
| 2024-06-30 | $2.00B | 85 | +16.60% | +24.49% | -7.89% | +0.09B |
| 2024-03-31 | $1.99B | 87 | +27.28% | +29.62% | -2.34% | +0.03B |
| 2023-12-31 | $1.79B | 89 | +23.93% | +26.18% | -2.25% | +0.01B |
| 2023-09-30 | $1.60B | 80 | +26.57% | +21.57% | +5.00% | -0.06B |
| 2023-06-30 | $1.66B | 80 | +23.47% | +19.42% | +4.04% | +0.05B |
| 2023-03-31 | $1.54B | 71 | +5.62% | -7.82% | +13.44% | +0.07B |
| 2022-12-31 | $1.38B | 68 | -5.37% | -18.17% | +12.81% | -0.02B |
| 2022-09-30 | $1.23B | 69 | -7.68% | -15.51% | +7.83% | -0.01B |
| 2022-06-30 | $1.28B | 71 | -4.74% | -10.62% | +5.88% | -0.02B |